Cathie Wood plans to start Space ETF after dominating with ARKK

After a stratospheric year, Cathie Wood’s Ark Investment Management is ready to go further: into space.

The New York-based company plans to launch the ARK Space Exploration ETF (ticker ARKX), according to a filing with the Securities and Exchange Commission. The actively managed exchange-traded fund will primarily follow US and global companies engaged in space exploration and innovation.

After massive inflows over the past year, the once-specialist firm now oversees around $ 41.5 billion in ETF products, up from less than $ 3.5 billion in the same period in 2020, the data shows. compiled by Bloomberg. Ark recently became a among the top 10 issuers of ETFs, in large part thanks to its flagship Ark Innovation ETF (ARKK) portfolio of $ 21.6 billion Tesla Inc. as its largest stake. While the vast majority of ETFs passively track equity indices, Ark offers five actively managed US ETFs, and Wood manages them all.

After the close of regular negotiations, Richard Branson founded the company Virgin Galactic Holdings Inc. climbed 6%.